Photos: Hundreds join Prince Albert for official launch of Kate Powers Foundation

The legacy of one of Monaco’s most beloved members of the community will live on in the Kate Powers Foundation, which has been officially launched in the presence of lifetime friend Prince Albert II of Monaco.

It was a packed house at Twiga on Tuesday 28th March as close to 400 members of the Monaco community came together for the official launch of her namesake foundation. It was a clear testament to how much they all loved and respected Kate Powers, including Prince Albert II of Monaco.

“It is wonderful to see so many familiar faces here, so many friends,” said Monaco’s Sovereign. “Your presence is a great testimony to Kate, to what she meant to us, and for what she did in her life. It’s all about giving back and helping others, and helping our planet as well. As she really embodied these values and this vision, I think we owe it to her to continue the work that she started with her family and many of you in this room.”

American-born Kate spent most of her life in the Principality after her mother, Jeanne Kelly, moved to Monaco to be with her friend Princess Grace. The Grimaldi and the Powers children grew up together.

As founder and owner of the popular former Stars n’ Bars family restaurant with her life partner Didier Rubiolo, Kate Powers was passionate about her local community and the environment. She passed away from cancer in August 2021, but her legacy to make the world a better place will live on.

Didier Rubiolo and Annette Anderson, former manager of Stars n’ Bars at the launch of the Kate Powers Foundation, photo credit Ed Wright Images

“Do what you love, love what you do, and make a difference”

During the official launch, President of the Kate Powers Foundation Rhonda Hudson relayed the moment that she and Kate decided to create the foundation in 2021.

“She looked at me and said, ‘Well I guess I could use a little help right now with all my ideas’, and she smiled,” revealed Rhonda. “She then asked me, ‘Why would people want to be a part of my foundation?’ and I repeated to her her most commonly used words: ‘Do what you love, love what you do, and make a difference’. The Kate Powers Foundation was created to serve the community of Monaco. We will continue Kate’s passions and desires by focusing on the environment, education and wellbeing in the Principality.”

Prince Albert with members of the Kate Powers Foundation board, photo credit Ed Wright Images

New water fountains to reduce single use plastic

Rhonda Hudson then announced the first project that the Kate Powers Foundation will undertake: the installation of drinking fountains at different locations throughout Monaco. It will help reduce the consumption of single-use plastic, something that was a key mission of the late Kate Powers. The aim is to place permanent, portable and temporary “Kate’s Fountains” throughout Monaco.

“These filtered drinking fountains will unite the community so we can all make an effort to reduce the consumption of single-use plastics,” said Rhonda. “We are excited to announce our collaboration for this project with the Water Smart Foundation.”

The community can support the Kate Powers Foundation projects by providing funding directly at https://www.katepowersfoundation.com.

Click on the gallery below to see more images from the launch. Photos source: Ed Wright Images…

 

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SEE ALSO:

END OF AN ERA: STARS ‘N’ BARS TO CLOSE AT 30-YEAR MARK

MONACO MOURNS THE LOSS OF LOCAL ICON KATE POWERS

Featured photo of HSH Prince Albert, Mike Powers and Didier Rubiolo, credit Ed Wright Images

 

Photos + Video: Princely family come together for Bal de la Rose 2023

Prince Albert, his sister Caroline Princess of Hanover, and members of the Princely family gathered on Saturday night for one of the year’s biggest social events, the Bal de la Rose.

Guests were welcomed to the Salle des Etoiles at the Sporting for a night of Bollywood, the theme chosen by the Princess of Hanover, President of the Princess Grace Foundation, and realised by her friend Christian Louboutin.

Joining Prince Albert II of Monaco and the Princess of Hanover were her four children: Andrea and Pierre Casiraghi, with their wives Tatiana and Beatrice, Charlotte Casiraghi, and Princess Alexandra of Hanover with her partner Ben-Sylvester Strautmann.

Prince Albert II with Caroline, Princess of Hanover, with Christian Louboutin (far left) and SBM CEO Stephane Valeri (far right). Photo courtesy SBM/Palais Princier

Christian Louboutin had carte blanche for the high-profile event, and embraced the vibrant theme enthusiastically. “For this Bal de la Rose 2023, it seemed natural to me to combine the aesthetics of the Pink City of Jaipur, Rajasthan, with the extravagance and magnificence of Bollywood,” said the renowned shoe designer.

The Salle des Etoiles was transformed into a film studio in which Bollywood dancers took guests on a journey of song and dance, telling the story of Beauty, a young Indian woman, invited to participate in the Bal de la Rose for the first time. Unable to find a dress for the big day, Beauty faints, only to be awoken by a pair of beautiful Louboutin shoes.

The Salle des Etoiles for the Bal de la Rose 2023. Photo courtesy SBM

The colourful room was filled with 12,000 roses, and 6,000 French marigolds and carnations. A troupe of 31 Bollywood dancers entertained guests as they dined on an Indian-themed menu that included langoustine with mango pickles, black cod tandoori, and lamb korma curry, all washed down with Perrier Jouët Belle Epoque Champagne, Cuvee 2013.

Meanwhile, Mika took to the stage to perform some of his greatest hits, including Relax, Grace Kelly, and Love Today.

A raffle, hosted by Stéphane Bern, offered a number of exceptional prizes including an 18-carat white gold and diamond Chanel Lion necklace, Christian Louboutin ‘Peep Tosachi’ heels made from sari fabric, and a Louis Vuitton ‘Capucines’ bag in pearly pink leather with rose gold details.

Shirley Bassey and Isabel Pantoja were among the guests at the 67th Bal de la Rose. Photo courtesy SBM/Palais Princier

All money raised went towards the Princess Grace Foundation. Created in 1964 by Princess Grace, her foundation supports humanitarian and cultural projects in aid of children. After the death of Princess Grace in 1982, her husband Prince Rainier III gave the presidency of the foundation to their daughter Caroline, Princess of Hanover.

Before Christian Louboutin, it was Caroline’s late dear friend Karl Lagerfeld who was artistic director of the Bal de la Rose. The event was established in 1954 to launch the party season in the Principality of Monaco. Hosted by the Monte-Carlo Société des Bains de Mer (SBM), this Spring spectacular has become a not-to-be-missed event.

Click on the gallery below for more images of the Bal de la Rose 2023, and scroll down to watch the video. Photos/video courtesy SBM/Palais Princier…

 

 

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Video: Prince Albert welcomes ‘No More Time – Oceans are Life’ sculpture to Foundation headquarters

Prince Albert was joined by a number of prestigious guests on Friday for the official unveiling of a monumental sculpture by Paola Buratto Caovilla entitled ‘No More Time – Oceans are Life’.

As part of Monaco Ocean Week, selected guests gathered alongside Prince Albert II, Olivier Wenden – CEO of the Prince Albert II of Monaco Foundation, and the artist Paola Buratto Caovilla, to celebrate her impactful sculpture.

Made of resin and acrylic paint, the artist’s multi-coloured globe represents our planet and shines the spotlight on the oceans. It also has a universal message to share: there can be no future if we do not care for the environment, and protecting the oceans must be a top priority.

‘No More Time – Oceans are Life’ stems from what Paola has seen and done, but there is more to it than just experience: “In life, we must endeavour to leave our children and those who come after us a better world, where they can find happiness,” says the Italian artist. “The only message that counts is the one that tells us we must be environmentally friendly and sustainable.”

The artist says that she wanted to display ‘No More Time – Oceans are Life’ in the gardens of the Prince Albert II of Monaco Foundation and unveil it during Monaco Ocean Week so that she could show her support for the foundation’s work and play her part in the week of ocean conservation efforts, especially those involving young people.

Princesses Maria Chiara and Maria Carolina of Bourbon Two Sicilies are the Ambassadors of the  initiative, tying in with their dedication to humanitarian causes.

Paola Buratto Caovilla is a descendant of the artist Giovanni Battista Piazzetta (1682-1754) and has a creative workshop in Veneto, Italy. She is also the author of six books that carry the common theme of embracing nature and sustainability in our lives, asking “What is the point of living comfortably if we’re not making the world a better place for those who’ll be here after we’re gone?”.

The sculpture, and its message “Oceans are Life”, will be on display until 30th April 2023.

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Real Estate: Europe’s house price boom is over amid global downturn

After several years of strong house price increases, the world’s housing markets are now slowing dramatically. In Europe, growth was seen in only eight markets in 2022, including Turkey, which remains the strongest housing market in the world thanks to foreign investors.

According to the latest Global Residential Real Estate Market Analysis, released on 22nd March, house prices, when adjusted for inflation, have risen in only 20 markets worldwide, and actually declined in 39 markets. The authors of the report say this is not surprising given the combined adverse effects of increasing interest rates, soaring inflation, global economic slowdown and supply chain disruptions caused by the Covid-19 pandemic and aggravated further by the Ukraine crisis.

The report shows that most European housing markets are now losing steam: in France, the residential housing market dropped 6.56%, while in Italy, the figure was down 9.34%.

After growing by 1.8% last year, the German economy is expected to suffer another mild contraction in early-2023, amidst the continuous increase in energy prices for households and the slowdown in export growth due to weak foreign demand. The European Commission expects Europe’s biggest economy to grow by a miniscule 0.2% this year.

Foreign investment boosts Turkey’s property market

Turkey remains the strongest housing market in the global house price survey, buoyed by strong demand from both local and foreign investors. The nationwide house price index rose by a spectacular 63.02% during 2022, far higher than the previous year’s 17.37% year-on-year increase and its highest increase in recent history. In fact, in nominal terms, prices soared by about 168%.

Turkish President Erdogan introduced an economic plan that prioritises growth, investment, employment and exports, pushed by a series of unorthodox interest rate cuts. The plan sparked hyperinflation and a currency crisis, with the nationwide inflation rate skyrocketing to an average of 73% in 2022 – the highest level since 1998. The value of the lira against the dollar tumbled by 44% in 2021 and by another 27% last year – its worst since Erdogan came to power nearly two decades ago. But for foreigners, the plunge in Turkey’s currency value means that the property market is very attractively priced, luring many buyers from the Gulf.

Turkey’s economy is projected to grow by a modest 3% this year as inflation remains high following the lira’s crash, and with the Ukraine crisis adversely impacting tourism.

Housing market strong in Russia

Russia’s house prices continue to rise rapidly, despite its struggling economy amidst the ongoing Russia-Ukraine war. Nationwide house prices soared by 9.96% in 2022 from a year earlier, up from the previous year’s 6.13% growth. During the latest quarter, nationwide house prices increased slightly by 0.7%.

However, the outlook remains gloomy as hundreds of thousands of Russians have left the country in recent months and have been purchasing properties in other markets instead, such as Dubai.

UK struggling through biggest decline in over a decade

According to the analysis, the UK’s housing market is also cooling dramatically, amidst slowing economic growth. Real house prices fell by 4.21% in 2022 from a year earlier, in stark contrast to the annual growth of 5.5% in 2021. It was its biggest year-on-year decline since 2008. In nominal terms, UK house prices actually rose by 4.77% during 2022, but it’s still a slowdown from a year-on-year increase of 10.14% in 2021.

Experts say that demand is falling, with residential property transactions (seasonally-adjusted) in the UK plunging by 14.9% to 1,262,090 units in 2022, following a 42.8% growth during 2021, according to HM Revenue and Customs. The UK economy will likely slow sharply this year, with the IMF projecting a slight contraction of 0.6%, following a growth of 4% in 2022 and 7.6% in 2021.

Moderate to minimal house price falls were recorded in Jersey (-4.84%), Malta (-4.26%), Norway (-3.77%), Lithuania (-2.17%), Spain (-0.64%), Ireland (-0.35%), Estonia (-0.2%) and Slovak Republic (-0.18%). All, except Spain, had weaker performances in 2022 from a year earlier.

Housing prices fall across the globe

Internationally, after almost a decade of strong house price growth, the US housing market is now decelerating rapidly, amidst falling demand and weakening economy. The S&P/Case-Shiller seasonally-adjusted national home price index fell slightly by 0.64% in 2022 (inflation-adjusted), following annual increases of 11.09% in 2021 and 9.01% in 2020. It was its worst showing since 2011.

Meanwhile, the UAE’s housing market growth is now slowing, with Dubai’s residential property prices rising by a modest 4.14% during 2022, a deceleration from a year-on-year increase of 8.1% in the previous year.

House prices in both Australia and New Zealand are also falling sharply, amidst slowing demand caused by rising interest rates and declining purchasing power of consumers caused by soaring inflation.

House prices in Australia’s eight major cities fell sharply by 9.96% during 2022, in stark contrast to the previous year’s strong growth of 17.57% rise.

Both demand and supply are falling, with capital city home sales activity dropping 30.1% in Q4 2022, as compared to the same period last year, according to CoreLogic. For the whole year of 2022, capital city sales were down by 16.5% relative to 2021 figures.

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Read also:

MONACO REAL ESTATE: THE PRIVATE NEW BUILDS THAT ARE CHANGING MONACO’S LANDSCAPE

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Photo credit: Maximillian Conacher, Unsplash

 

Monaco Ocean Week: Prince Albert launches ReOcean Fund to encourage private investors to save the oceans

Prince Albert, his Foundation and Monaco Asset Management have officially launched the ReOcean Fund, an initiative that targets private investment for innovative, high-impact solutions for the ocean, because “philanthropy is simply not enough”.

It was in the presence of HSH Prince Albert II of Monaco on Tuesday 21st March that the ReOcean Fund was launched during Monaco Ocean Week.

“There are very few tasks as vast, complex, overwhelming and yet as urgent as the ones we are dealing with here: to save the Ocean,” said Prince Albert. “The Ocean needs us, and it needs you.”

The ReOcean Fund will funnel €100 million over 10 years to the United Nations Sustainable Development Goal 14 ‘Life Below Water’, which aims to catalyse the next generation of ocean innovations to support the transition towards a net-zero, regenerative and more equitable economy.

“The creation of the ReOcean fund is in line with the efforts undertaken for many years by the Prince Albert II of Monaco Foundation to promote the most innovative companies that have an impact on the safeguard of life below water,” said Olivier Wenden, CEO of the Prince Albert II of Monaco Foundation, during the launch.

Finding innovative solutions for the Ocean 

The ReOcean Fund has four aims: reduce key sources of pollution in the ocean; transform the way we produce blue food and travel across the ocean; protect marine ecosystems and the critical services they provide; and inform and equip ocean stakeholders with robust and transparent data.

The fund will support early but proven innovations, focusing on Series A and B. It aims to leverage networks in and around Monaco to identify opportunities to deploy or platform solutions.

Philanthropy is not enough

The ReOcean Fund aims to attract private investors to inject funds into projects selected by a committee composed of experts in the environmental and investment fields.

“Philanthropy plays a key role in filling the gaps, but it is not enough to meet the immense challenges of the Oceans,” said Olivier Wenden. “In 2019, only $10 billion of the estimated $175 billion needed was invested in active solutions to protect the seas and oceans. That’s why we must intensify and accelerate existing solutions and to do this, we need the private sector.”

The rise of the Blue Economy

According to Anthony Torriani, Managing Director of Monaco Asset Management, the Blue Economy is the fastest growing sector of investment, with more than 2,000 start-ups initiated in 2021 alone. That was double the figure of 2019, a fact that should be resonating with potential investors.

 

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Photo source: Prince Albert II of Monaco Foundation

 

 

 

Monaco Ocean Week: World-first report into life cycle of plastics delivers shocking results

The first ever comprehensive report on the impacts of plastic on human health at every stage of its life cycle has been revealed during Monaco Ocean Week. The next step: to put a global cap on plastic production.

The Minderoo-Monaco Commission, made up of world-leading researchers in the fields of healthcare, the ocean and the environment, have collaborated to present the most detailed analysis of its kind ever seen.

The overwhelming conclusion is that plastic causes premature death at every stage of its life cycle, from production to use and disposal.

“99% of plastics are made from fossil fuels – coal, oil and gas – which I don’t think most people realise,” Professor Phillip Landrigan, Director of the Global Observatory on Planetary Health at Boston College, tells Monaco Life.

“When we did this analysis, we looked at the health hazards of plastic, starting with the extraction of the fossil fuels, the conversion of the fossil fuels into plastic, which uses very complicated chemical processes, the use of plastic and then ultimately its disposal as plastic waste. There are health hazards at every stage of that progression and we try to trace them out, and that’s what’s really unique about this report.”

Plastic production

Current figures show that 10,500 chemicals are used to make plastic today, while a third of all plastic produced each year is single use. Looking to the future, the largest increases in plastic usage is anticipated in the emerging economies of sub-Saharan Africa and Asia. As a result, there could be as much as 256 mega tonnes of mismanaged waste by 2060, a fact that paints a terrifying picture.

Recycling is not the only answer

Despite popular belief, only 9% of plastic waste is recycled today. But even that comes with mortal danger to human health. Chemical additives in plastics can be released during the recycling and recovery processes, and leach out of products made from recycled plastics. In fact, more dangerous chemicals are found in recycled plastics than “virgin” plastics.

“Most people are very conscientious about recycling, we’re accustomed to doing it. But unlike glass and aluminium, for example, which has a recycling rate of around 85%, only 9% of plastic is recycled,” explains Prof. Landrigan. “It’s because the recycling organisations can’t do anything with it. There are many different types of plastic and it’s impossible to sort them, but an even larger problem is that plastics are made of more than 10,000 chemicals – some cause cancer, some can cause birth defects in babies, some can cause brain damage and disrupt the functioning of the endocrine system – and because plastic waste contains all of these nasty materials, you can’t just recycle it and then put it back into food packaging, clothing or a child’s toy.”

Plastic leakage

While plastic waste is easily identifiable in the environment, plastic leakage is less so. The report found that plastic leakage occurs at every stage of its life cycle. During production, plastic resin pellets and powders are unintentionally released into the environment during manufacture, transport, loading, storage, use and recycling.

While in use, macro- and microplastics leak into the environment primarily through road transport, paint and litter.

At the disposal stage, plastics leak into the environment in a number of ways, including incineration, wastewater sludge, uncontrolled landfill dumps and mechanical recycling.

Impact on oceans

The presence of plastics in the ocean and their impact have been documented for decades, with estimates of around nine to 23 mega tonnes of plastics being dumped in the ocean each year. It’s a shocking statistic when you consider that a plastic bag, for example, can take up to 2,500 years to break down, and PVC pipes 500 years.

Meanwhile, microplastics have been found in over 1,200 marine species, including seafood species consumed by humans.

Yet despite a significant head start, the Commission’s findings reveal a greater need for better measurement and monitoring of the effects of plastic chemicals on marine species, and the authors also uncover a major knowledge gap concerning the ingestion of micro- and nano-plastic particles (MNPs).

Dr Hervé Raps, Physician Delegate for Research at Centre Scientifique de Monaco, emphasises the need to fully understand the impacts of marine plastic pollution.

“Plastic waste endangers the ocean ecosystems upon which all humanity depends for food, oxygen, livelihood and well-being,” says Dr. Raps. “Despite evidence suggesting consumption of seafood is not a major pathway for transfer of plastic to humans, we are seeing an increase in macro and micro-plastic particles being identified in hundreds of marine species, including those consumed by humans. And alongside the new findings of this report, linking toxic chemicals to human harms, this is not the time to slow down our understanding of the ocean – the lungs of the Earth.”

Health impacts of plastic

For those involved in the production of plastic, the health impacts are numerous: lung cancer, brain cancer, breast cancer and decreased fertility, to name a few.

For the “fenceline communities” impacted by fracking, a controversial process of retrieving fossil fuels to make plastic, the health impacts include asthma, premature birth, cardiovascular disease and mental health problems.

For users of plastics, which is almost every human being on the planet, the leaching of chemical additives has been scientifically proven to cause neurological disorders, birth defects, cancer, renal disease, decreased fertility, obesity and many more.

The health costs of plastic

To measure the economic impact of plastics on human health, the commission partnered with economists and developed an estimate of costs. Among its conclusions: that deaths from exposure to plastics, its impact on IQ loss and intellectual ability, and the role it plays in causing heart disease and strokes, costs the United States government $920 billion a year. Due to a lack of quantifiable data, this figure doesn’t even take into consideration the ingestion of plastics through the food chain or the inhalation of plastic particles.

What does the Commission recommend?

Prof. Phillip Landrigan has spent a lifetime studying the effects of harmful chemicals on children’s brain development and neurological systems, and is particularly concerned about the lack of progress made by regulators.

“Very few details about the identity, chemical makeup and potential toxicity of plastic chemicals are disclosed by plastic producers, and in most countries, they are under no legal obligation to do so,” says Prof. Landgrigan.

The Minderoo-Monaco Commission is recommending the establishment of health-protective standards for plastic chemicals under the Global Plastics Treaty, requiring the testing of all polymers (the “backbones” of chemicals) and plastic chemicals for toxicity before entering markets, as well as post-market surveillance.

The Commission urges that a cap on global plastic production be a defining feature of the Global Plastics Treaty, and that the Treaty go far beyond marine litter to cover the entire life cycle of plastics.

Who is the Commission targeting with its report?

As well as informing policymakers, the Commission’s report is designed to educate physicians, nurses, public health workers and the global public about the full magnitude of plastics’ hazards, which put the disadvantaged and poor, as well as women and children, at particularly high risk.

“The aim of this report is to let the world know that plastic is a huge problem. For the last 50 years, we have viewed plastic as cheap and convenient. But what this report aims to do is say, hey, it’s not as cheap as you thought it was, there are great costs, and up until now they have been invisible. It’s our job to make these costs visible,” says Prof. Landrigan.

Monaco and Prince Albert leading the charge

As an expert consultant with the Scientific Centre of Monaco, Prof. Landrigan knows the lengths to which Prince Albert has gone to put the oceans, and ecosystems, on the international agenda. That is why the Commission chose Monaco Ocean Week to launch its report.

“Presenting this work at Monaco Ocean Week puts the power and the prestige of the State of Monaco behind the report,” concludes the professor. Monaco may be one of the world’s smallest states, but as Head of State, Prince Albert has the same stature as (US President) Joe Biden, (Russian President) Vladimir Putin and (French President) Emmanuel Macron. He sits at the UN, and when a head of state, even a small state, courageously stands up and says we need to do the right thing, that carries weight. There are many countries around the world who are going to follow Prince Albert’s lead and want to do the right thing.”

 

Listen to the full interview with Prof. Phillip Landrigan in our podcast…

Rewind: Podcast interview with Prof. Phillip Landrigan on opening the world’s eyes to the impacts of plastic on human health

 

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SEE ALSO:

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MONACO PART OF LANDMARK ANTI PLASTIC POLLUTION RESOLUTION

 

Photo credit: Franki Chamaki on Unsplash